CVCO Form 4: Director awarded 102 RSUs at $588.47; time-based payout

Rhea-AI Filing Summary

Cavco Industries (CVCO) reported an insider equity award on Form 4. A director received an award coded “A” of 102 Restricted Stock Units on 10/27/2025 at a reported price of $588.47 per unit. The award pays out in shares of common stock on the earlier of the 12-month anniversary of the grant date or the company’s next annual meeting of stockholders. Following the reported transaction, the filing lists 102 securities beneficially owned on a direct basis.

Insights

Corporate governance analyst

Routine director RSU grant; neutral governance event.

The filing records a director award of 102 RSUs with a price of $588.47. The terms state the RSUs settle into common shares at the earlier of the 12-month anniversary of the grant date or the next annual meeting. This is typical director compensation structure aligning service with equity.

Since the grant is time-based and reported under transaction code “A,” it points to a compensatory award. Actual share delivery depends on the stated vesting/scheduling trigger. There is no cash flow disclosed for the company here.

Key items are the $588.47 grant price reference and 102 units. Subsequent filings may detail settlement upon the earlier event, but the excerpt lists no additional conditions beyond the timing trigger.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Daniels Lisa Lynn

(Last) (First) (Middle)

3636 N CENTRAL AVE

SUITE 1200

(Street)

PHOENIX AZ 85012

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CAVCO INDUSTRIES, INC. [ CVCO ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/27/2025		A		102	A(1)	$588.47	102(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This is an award of Restricted Stock Units which will pay out into shares of Common Stock of the Company upon: (a) the 12 month anniversary of the Grant Date, or (b) the Company's next annual meeting of stockholders following the Grant Date, whichever occurs first.

2. Includes 102 shares of Restricted Stock Units allocated but not yet vested or delivered.

Remarks:

	/s/ Seth G. Schuknecht, attorney-in fact	10/29/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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